IB Economics (HL)
Ultimate Study Guide
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Introduction to economics
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Microeconomics
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Macroeconomics
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The global economy
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Question & AnswerIf you have any other questions - please get in touch
What is the IB Economics (HL) exam format?
IB Economics HL has internal and external assessments: the IB external assessment is the part you do on test day and the IB internal assessment is usually a project or a presentation you have to work on ahead of time.
For the external assessments:
Paper 1 - extended response paper based on the entire syllabus; will take you 1 hour 15 minutes (worth 20% of your final grade)
Paper 2 - data response paper based on the entire syllabus; will take you 1 hour 45 minutes (worth 30% of your final grade)
Paper 3 - policy paper based on the entire syllabus; will take you 1 hour 45 minutes (worth 30% of your final grade)
For the internal assessments:
Portfolio - three commentaries based on different units of the syllabus; will take you 20 hours (worth 20% of your final grade)
To make sure you’re prepared enough to finish in time, take a look through the IB Economics Syllabus and our free IB Economics resources that cover the most important material you should know.
How do I study for IB Economics (HL)?
IB exams are scored using a combination of internal and external assessments. The IB score range is 1 to 7, with 7 being the highest. External assessments, such as the written exams, are marked by external IB examiners, while internal assessments, such as projects or oral presentations, are graded by the student's teacher and then moderated by IB examiners. The scores from different assessments are combined, and students may earn up to 42 points from six subjects, with an additional 3 points available from the Theory of Knowledge (TOK) and the IB Extended Essay, for a maximum total of 45 points.
What units are on IB Economics (HL)?
You’ve likely covered a lot of material during your course this year, but to get a 7 on the International Baccalaureate exam, it’s important you understand how often each topic shows up. Once you take a look through the breakdown below, make sure to read through the IB Economics (HL) study guide above with all the key points you should know for each unit. The IB Economics (HL) revision notes are made by other students who already took that class. After that, run through the IB Economics (HL) flashcards to practice important terms you should know for the exam. You can also do some test prep using the tests attached to each note. There’s a lot of IB Economics (HL) resources for you to shuffle between until you find the method that works best for your learning style. Make sure to start ahead and leave enough time to practice.
What are the video resources?
- When approaching your IB Economics exam review, take some time to understand how the different units are actually broken up so you can place the right emphasis on each one.
- Unit 1: Introduction to Economics
- Unit 2: Microeconomics
- Unit 3: Macroeconomics
- Unit 4: The Global Economy
Where can I ask IB Economics (HL) questions?
IB Economics HL requires strong problem-solving abilities, critical thinking, and a solid understanding of economic principles. You’ll need to master topics in microeconomics, macroeconomics, international economics, and development economics, while applying them to both theoretical and practical economic problems.
What is IB Economics (HL)?
We’ve handpicked some of our favorite YouTube channels and videos that align with the key topics and themes covered in our IB Economics HL study guides. These channels can be a great way to get a better understanding of fundamental topics such as microeconomics, macroeconomics, international trade, and development economics. Experience practical learning through case studies and interactive classroom activities, while applying economic theories to real-world issues and global economic challenges.